World is drowning in debt and it spells disaster for everyone

The entire planet is swimming in debt, yet no one seems to criticize the system itself as being fundamentally flawed.
“A man in debt is so far a slave,” American essayist Ralph Waldo Emerson once reportedly said.

In light of this statement, I contend that I don’t need to have a college degree in economics to tell you that our current financial system enslaving the entire world is not sustainable – and headed for one hell of a spectacularly ugly crash.

Last month, the Washington-based Institute of International Finance published their latest statistics indicating that global debt had reached $247.2 trillion by the end of March this year, an increase of 11.1 percent from last year alone. In other words, since the start of this year, global debt rose by a whopping $8 trillion in just three to four months.

In 2016, the global debt was already at $164 trillion, which was equivalent to 225 percent of global GDP. The global debt-to GDP ratio currently exceeds 318 percent, having risen for the first time since the third quarter of 2016. Just the US debt to GDP ratio alone currently exceeds 100 percent. This debt-to-GDP ratio is 12 percentage points higher than in 2009, during the aftermath of the global financial crisis. We are now at levels not seen since during the 1980s and the International Monetary Fund (IMF) expects this to continue on an upward trend.

via World is drowning in debt and it spells disaster for everyone — RT Op-ed

Got bubbles? Anything not sustainable is TERMINAL. It is just a question of time. When will this debt bubble burst?